Bender Chrysler Dodge RAM Jeep

FINANCE CENTER

Learn More About the Finance Center Available at Bender Chrysler Dodge Jeep® in Clovis, NM

Buying a car is a huge investment, and it's likely one of the biggest purchases you will make. Although it may save you money in the long run, most people can't purchase a new car outright, which is why leasing and financing options are available. Each option offers its own set of pros and cons, and one might be a better fit for you than the other.

New and Used Vehicle Financing

Financing a new or used vehicle involves taking out a loan to pay for the vehicle over time with interest. Once you pay the full balance of the car, you will own it and can drive it as much as want around Roswell, NM and beyond. Terms of car loans can vary and will be negotiated and agreed upon by both parties. At the end of the loan term, you'll have full ownership of your vehicle and no restrictions on its use will be in place at any point throughout the duration of the loan.

When you choose to finance a vehicle, it also allows you to add as many permanent customization and personalization options as you'd like. In order to get a loan to purchase a car, you'll need to prove to a financial institution that you have the means to pay the loan back. In order for them to decide whether you're worthy of the loan, they'll look at a variety of different things, like your income and credit score. Once you're approved by a financial institution, you'll need to select the loan terms that you feel comfortable with. Most loans can be paid over a period of five to seven years with interest. If you intend to pay some money down, this will allow you to finance less of the overall cost and save you some money in interest. Our team works with lenders around the Albuquerque, NM area to find you competitive loan options.

New Vehicle Leasing

Leasing a vehicle means that you're only borrowing the vehicle for the duration of a lease. Once the lease is up, you need to decide whether you're going to purchase the car outright or start a new lease on a different vehicle. When you lease from our dealership, you typically sign a lease agreement with us. The contract allows you to use the vehicle under specified terms in exchange for a monthly payment. Although you possess the model and are responsible for some additional costs, you do not technically own your vehicle, when you have a lease. As a result, there are a number of restrictions, like annual mileage limits, that are placed on leased vehicles. If you break any of these restrictions, you will be charged a penalty fee.

Financing versus Leasing

Everyone's financial situation is different, so what's right for one person may not be the best choice for someone else. Leasing a car can be a good option for someone who doesn't intend to keep it for a long time or put many miles on it driving around Amarillo, TX and beyond. Lease terms tend to be relatively short, and there are typically numerous restrictions in place.

Financing a car can be a good option for those who plan to own their car for a significant amount of time and like the freedom of customization. With financing, you can choose the length of time you'll be paying on the loan. In addition, you'll have no operating restrictions to follow and the car will be all yours at the end of the loan term.

Apply for Financing or Leasing Online

You can apply online to see if you qualify for leasing or loaning. Stop by our dealership to learn more or chat with our financing professionals today. It's easy to get started online from the comfort of your Lubbock, TX couch. Don't wait any longer to get started.